KKR has agreed to acquire Internet Brands from Hellman & Friedman and JMI Equity. No financial terms were disclosed. Internet Brands’ management will hold a minority stake in the business. Headquartered in El Segundo, Calif., Internet Brands is a provider of online media and software solutions.

AMSURG is to acquire Sheridan Healthcare in a cash and stock transaction valued at approximately $2.35 billion. Sheridan Healthcare, a portfolio company of Hellman & Friedman, is a provider of multi-specialty outsourced physician services.

The New York State Teachers’ Retirement System will tell you that its private equity portfolio has generated a net IRR of 11.1 percent through the end of June 2013. But don’t ask for the details. The pension fund believes that the returns of individual funds are trade secrets, according to sister publication Buyouts.

Sheridan Healthcare Inc, a physician services company, has hired banks for an initial public offering, which may raise between $400 million and $500 million, the Wall Street Journal reported, citing people familiar with the matter.

Sheridan Healthcare, a physician services company, has hired banks for an initial public offering, which may raise between $400 million and $500 million, the Wall Street Journal reported, writes Reuters. Owned by private equity firm Hellman & Friedman, the company has hired Credit Suisse Group, Barclays and Goldman Sachs Group to lead the offering, which may value the company at more than $2 billion.

Permira has sold Renaissance Learning, a K12 assessment and learning analytics company, to Hellman & Friedman for $1.1 billion. Google Capital is expected to remain as an investor in Renaissance Learning.

Private equity firms Hellman & Friedman and JMI Equity are exploring a sale of human resources management software firm Kronos, which could be valued at more than $4 billion, writes Reuters. Kronos is in early stage talks with a small group of private equity firms, including KKR & Co LP, TPG Capital LP and Bain Capital LLC, about a potential deal, writes Reuters.

Bain Capital LLC stands to make more than 4x its invested capital when it completes the sale of insurance software maker Applied Systems Inc in a secondary sale to Hellman & Friedman LLC, a person with knowledge of the transaction told Buyouts.

Deutsche Telekom is close to a deal to sell 70 percent of its online classified advertising business Scout24 to private equity firm Hellman & Friedman, Bloomberg reported. Citing unidentified sources, Bloomberg reported that the purchase would value the business, including debt, at about 2 billion euros ($2.71 billion) and that an announcement from the German telecoms firm could come this week.

Business school isn’t always a requirement for candidates seeking careers at private equity firms. Some buyout shops promote their most talented associates/analysts into more senior positions without their having an MBA, several sources tell peHUB.

Calypso Technology held talks to sell itself late last year but those discussions broke down, sources tell peHUB. Calypso hired Qatalyst Partners, the investment bank founded by Frank Quattrone, to find a buyer last year.